PhD or Masters???

Hello, I’m currently an undergraduate student in my junior year with a 3.75 gpa, constant for each semester and in my major, and am studying for the gre (have yet to take it but my ACT score was a 31 for reference)

I have the opportunity to apply for a 5th year masters degree at my current school but I’m unsure if I should do it. My hesitation is that I’ve only begun doing research in my junior year due to a faculty issue that caused my previous spot in a lab to fall through. My other hesitation is the money. With this program I need to pay for another full year but the majority of phd programs are covered. If I continue my research experience and apply for phd programs after my senior year, does anyone think I am a competitive applicant?

What is your subject area? What kind of research do you want to do in grad school, and what are your career aspirations? Is your field one where you could find a job with a master’s if you decide not to take the PhD route afterwards? Will you be able to research this summer? Do you have to decide now? Or can you apply next year for the 5th year master’s along with PhD programs?

My kid’s PhD program has some kids with master’s who are having to repeat their master’s work in the PhD program (so that can happen).

From the limited information provided, it sounds like you would be a competitive applicant for PhD programs. If I were you I’d apply to a few Master’s programs, but focus on the PhD programs. You can usually leave a PhD program with a Master’s after 2 years if you decide it’s not for you.

I think the OP wants some specific advice on the 5th year master’s at their college.

Yeah, you need to give a little bit more information here: what subject are you pursuing? How much research experience do you currently have? There are also other things in certain fields that make you competitive - like if you’re applying to humanities programs, do you have any languages? If you’re applying to clinical or counseling psychology programs, do you have any clinical volunteering experience?

In certain fields (especially in the humanities), a fifth-year master’s program might be a great way to prepare yourself for a PhD program. In other fields (especially in the sciences and some social sciences), a fifth-year master’s would be fine but not necessary, especially if it’s expensive.